Cover
Cover - shares | 9 Months Ended | |
Oct. 31, 2021 | Dec. 14, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q/A | |
Amendment Flag | true | |
Amendment Description | Amendment | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --01-31 | |
File Number | 333-254750 | |
Registrant Name | GLIDELOGIC CORP. | |
Entity Central Index Key | 0001848672 | |
Tax Identification Number | 98-1575837 | |
Incorporation State Country Code | NV | |
Address Line 1 | 21/1 Erkindik Ave, ste. 187 | |
Address City Or Town | Bishkek | |
Address Country | KZ | |
Address Postal Zip Code | 720000 | |
City Area Code | 786 | |
Local Phone Number | 7086089 | |
Current Reporting Status | Yes | |
Interactive Data Current | No | |
Filer Category | Non-accelerated Filer | |
Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
shell company | false | |
EntityCommonStockSharesOutstanding | 2,792,500 | |
Contact Personnel Email Address | glidelogic@yandex.com |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Oct. 31, 2021 | Jan. 31, 2021 |
Current Assets | ||
Cash and Cash Equivalents | $ 20,733 | $ 100 |
Accounts Receivable | 990 | |
Total Current Assets | 20,733 | 1,090 |
Fixed Assets | ||
Equipment, Website, net | 4,925 | |
Total Fixed Assets | 4,925 | |
Total Assets | 25,658 | 1,090 |
Current Liabilities | ||
Account Payable | 2,500 | |
Loan | 6,010 | |
Total Current Liabilities | 8,510 | |
Other Liabilities | ||
Deferred tax liability | 2,182 | |
Total Other Liabilities | 2,182 | |
Total Liabilities | 10,692 | |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 2,128,750 shares issued and outstanding as of October 31, 2021 and as of January 31, 2021 | 2,129 | 2,000 |
Additional Paid in Capital | 5,021 | |
Accumulated income/deficit | 7,816 | (910) |
Total Stockholders’ Equity | 14,966 | 1,090 |
Total Liabilities and Stockholders’ Equity | $ 25,658 | $ 1,090 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Oct. 31, 2021 | Jan. 31, 2021 |
Statement of Financial Position [Abstract] | ||
CommonStockParOrStatedValuePerShare | $ 0.001 | $ 0.001 |
CommonStockSharesAuthorized | 75,000,000 | 75,000,000 |
CommonStockSharesIssued | 2,128,750 | |
CommonStockSharesOutstanding | 2,128,750 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended |
Oct. 31, 2021 | Oct. 31, 2021 | |
Income Statement [Abstract] | ||
REVENUES | $ 24,500 | |
Gross Profit | 24,500 | |
OPERATING EXPENSES | ||
General and Administrative Expenses | (3,810) | (13,592) |
TOTAL OPERATING EXPENSES | (3,810) | (13,592) |
NET LOSS/INCOME FROM OPERATIONS | (3,810) | 10,908 |
PROVISION FOR INCOME TAXES | 762 | (2,182) |
NET LOSS/INCOME | $ (3,048) | $ 8,726 |
NET INCOME PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 2,008,139 | 2,002,743 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance, shares | 2,000,000 | |||
Issuance of common stock | 129 | 5,021 | 5,150 | |
Net income for the nine months ended October 31, 2021 | $ 8,726 | $ 8,726 | ||
Balance, January 31, 2021 at Jan. 31, 2021 | 2,000 | (910) | 1,090 | |
Issuance of common stock | 128,750 | |||
Ending balance, value at Oct. 31, 2021 | 2,129 | 5,021 | 7,816 | 14,966 |
Ending balance, value at Oct. 31, 2021 | 2,128,750 | |||
Balance, value | 2,000,000 | |||
Balance, July 31, 2021 at Jul. 31, 2021 | $ 2,000 | $ 10,864 | $ 12,864 | |
Issuance of common stock | 129 | 5,021 | 5,150 | |
Issuance of common stock | $ 128,750 | |||
Net income for the nine months ended October 31, 2021 | $ (3,048) | (3,048) | ||
Ending balance, value at Oct. 31, 2021 | $ 2,129 | $ 5,021 | $ 7,816 | 14,966 |
Ending balance, value at Oct. 31, 2021 | 2,128,750 | |||
Balance, value | $ 2,128,750 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS | 9 Months Ended |
Oct. 31, 2021USD ($)shares | |
CASH FLOWS FROM OPERATING ACTIVITIES | |
Net Income | $ 8,726 |
Adjustments to reconcile net loss to net cash provided by operations: | |
Depreciation Expense | 1,675 |
Accounts Receivable | 990 |
Accounts Payable | 2,500 |
Deferred Tax Liability | 2,182 |
CASH FLOWS FROM OPERATING ACTIVITIES | 16,073 |
CASH FLOWS FROM INVESTING ACTIVITIES | |
Equipment | (6,600) |
CASH FLOWS FROM INVESTING ACTIVITIES | (6,600) |
CASH FLOWS FROM FINANCING ACTIVITIES | |
Loan From Director | $ 6,010 |
Capital Stock | shares | 5,150 |
CASH FLOWS FROM FINANCING ACTIVITIES | $ 11,160 |
NET CHANGE IN CASH | 20,633 |
Cash, beginning of period | 100 |
Cash, end of period | 20,733 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |
Interest paid | |
Income taxes paid |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | Note 1 – ORGANIZATION AND NATURE OF BUSINESS GLIDELOGIC CORP. (“the Company”) was incorporated in the State of Nevada on December 11, 2020. We are a software development company which is developing online platform and messenger. Packed with bunch of redundant security and privacy tools the application is striving to meet and surpass defense-grade security requirements by employing “true end-to-end” encryption technology. Company location is in Kyrgyzstan. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”), which contemplate continuation of the Company as a going concern. The Company had $24,500 revenues for the nine months ended October 31, 2021. The Company currently has income but has not completed its efforts to establish a stabilized source of revenue sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is January 31. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. I ncome Taxe Income taxes 8 GLIDELOGIC CORP. NOTES TO THE FINANCIAL STATEMENTS As at October 31, 2021 (Unaudited) Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2021. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash and related party loan payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Stock-Based Compensation As of October 31, 2021, the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. Fixed Assets Equipment Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. As of October 31, 2021, the Company has generated $24,500 revenue for the consulting service from our customers KR TechApp LLC and SARYMSAKOV AMAN KUBATBE. Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective and thus not disclosed here, accounting pronouncements and we do not believe any of those pronouncements will have a material impact on the Company’ financial position, results of operations or cash flows. 9 GLIDELOGIC CORP. NOTES TO THE FINANCIAL STATEMENTS As at October 31, 2021 (Unaudited) Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2021 there were no potentially dilutive debt or equity instruments issued or outstanding. |
FIXED ASSETS
FIXED ASSETS | 9 Months Ended |
Oct. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS | Note 4 – FIXED ASSETS Equipment Website Total Cost As at January 31, 2021 $ - - - Additions 2,100 4,500 6,600 Disposals - - - As at October 31, 2021 $ 2,100 4,500 6,600 Depreciation As at January 31, 2021 (-) (-) (-) Change for the period (175) (1,500) (1,675) As at October 31, 2021 $ (175) (1,500) (1,675) Net book value $ 1,925 3,000 4,925 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Oct. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 5 – RELATED PARTY TRANSACTIONS For the nine months ended October 31, 2021, our sole director has loaned to the Company $6,010. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Oct. 31, 2021 | |
Equity [Abstract] | |
COMMON STOCK | Note 6 – COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On January 21, 2021 the Company issued 2,000,000 shares of common stock to a director at $0.001 per share. In October 2021, the Company issued 128,750 shares of common stock for cash proceeds of $5,150 at $0.04 per share. There were 2,128,750 shares of common stock issued and outstanding as of October 31, 2021. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Oct. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 7 – COMMITMENTS AND CONTINGENCIES From time-to-time, the Company is subject to various litigation and other claims in the normal course of business. The Company establishes liabilities in connection with legal actions that management deems to be probable and estimable (if any). No such event or amounts have been accrued in the financial statements with respect to any litigation or other claim matters. Director and management stay informed about COVID-19 developments generally and ensure it has access to information related to a company’s response to the crisis and how the specific impact on the company is developing as the crisis extends. 10 GLIDELOGIC CORP. NOTES TO THE FINANCIAL STATEMENTS As at October 31, 2021 (Unaudited) |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
SUBSEQUENT EVENTS | Note 8 – SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”, the Company has analyzed its operations subsequent to October 31, 2021, through December 14, 2021, and has determined issuance of 663,750 shares of common stock for cash proceeds of $26,550 at $0.04 per share in November 2021. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is January 31. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. |
Income taxes | I ncome Taxe Income taxes 8 GLIDELOGIC CORP. NOTES TO THE FINANCIAL STATEMENTS As at October 31, 2021 (Unaudited) |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments”, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2021. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash and related party loan payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. |
Stock-Based Compensation | Stock-Based Compensation As of October 31, 2021, the Company has not issued any stock-based payments to its employees. Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Equipment | Fixed Assets Equipment |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. As of October 31, 2021, the Company has generated $24,500 revenue for the consulting service from our customers KR TechApp LLC and SARYMSAKOV AMAN KUBATBE. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have reviewed all the recently issued, but not yet effective and thus not disclosed here, accounting pronouncements and we do not believe any of those pronouncements will have a material impact on the Company’ financial position, results of operations or cash flows. 9 GLIDELOGIC CORP. NOTES TO THE FINANCIAL STATEMENTS As at October 31, 2021 (Unaudited) |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share |